Course Outline for International
Financial Markets
国际金融市场与管理课程 大纲
Instructor:
Ding, Hao
授课教师： 丁浩
Graduate School of Business
Guangdong University of Foreign Studies
2014-1-2
Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
Course title:
International
Financial Markets
Pre-requisites:
Course code:
27513304
Nature:
Elective Course
Credit hours:
32
Credit points:
2
Instructor name:
Ding, Hao
Class time:
Instructor title:
Lecture
Classroom:
Office:
301, Building 9
Phone:
13822210396
Office hours:
Email:
hding@gdufs.edu.cn
Teaching
Assistant:
Website:
I. Course Description
This course provides MBA students with a framework for making corporate financial decisions in an
international context. The objectives of this course are two-fold: first, to study a fundamental understanding of
the macroeconomic environment governing international business, second, to study specific problems and
questions that confront the financial manager of a firm operating in international markets. A spectrum of
topics will be discussed in the area of international financial management. The topics covered include:
introduction to international finance, international monetary systems and balance of payments; how to
measure currency exposure; how to structure financial and operational hedges for currency risk; how to
structure a global financing program; how to raise capital in international equity and bond markets. Three
cases will be studied in the classes, and most will be conducted by all students. The course will be of interest
to graduate students who are interested in international financial issues, as well as students who wish to work
in a multinational corporate environment.
Mapping of the course content against the AMBA Criteria (please tick relevant boxes)
Tick AMBA Criteria
√
√
(i)
the concepts, processes and institutions in the production and marketing
of goods and/or services and the financing of business enterprise or other
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
forms of organization;
√
(ii)
the concepts and applications of accounting, of quantitative methods,
and management information systems including IT applications;
(iii)
organization theory, behavior, HRM issues and interpersonal
communications;
√
(iv)
the processes and problems of general management at the operational
and strategic level;
√
(v)
Macro and micro economics
√
(vi)
business research methods and consultancy skills;
√
(vii)
the impact of environmental forces on organizations, including: legal
systems; demographics; ethical, social, and technological change issues;
(viii)
√
√
explicit coverage of the ability to respond to and manage change;
(ix)
business policy and strategy;
(x)
leadership and entrepreneurship;
(xi)
an understanding of the impact of sustainability, ethics and risk
management on business decisions and performance;
√
(xii)
further contemporary and pervasive issues, such as creativity,
enterprise,
innovation,
e-commerce,
knowledge
management,
and
globalization;
√
(xiii)
the international dimension to the above, including political risk and
contemporary processes of regionalization, emerging markets, global
governance and globalization.
II. Course Learning Outcomes
On completion of this course, students should be able to:
1. Define the basic terms and concepts related to international finance
2. Outline the structure of the international monetary system
3. Identify and describe rationale and mechanism of basic international financial instruments
4. Explain how foreign exchange market performs
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
5. Compare and contrast the different types of foreign currency derivatives
6. Summarize how international bond and equity markets help a business raise capital
7. Calculate and explain interest rate risk measures
8. Apply the principles of international finance to practical problems (case studies)
Alignments of Program and Course Learning Outcomes (CLO):
Program Learning Outcomes
Course learning
outcomes (CLO) #
In-depth knowledge of business and management
1234567
Analytical skills and critical judgment
345678
Communication and social skills
8
Leadership and strategic thinking
68
Diversity awareness
356
Ethical and social understanding
8
III. Syllabus
General description of the teaching arrangement
Tentative Teaching Schedule
Session Date
1.
Topic
Introduction
2
International
Monetary
System
3
Balance
Reading
Writing
Cases/Exercises Assignment
Due
Chapter 1
Exercise 1: choose
one topic related
on
international
financial market to
write a paper.
Chapter 2
Exercise 2: The
Structure
of
China’s Financial
System and the
internationalization
of RMB
of Chapter 3
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
Payment (BoP)
4
The
Foreign
Exchange
Chapter 4
Market
Case 1: Hong
Kong
Linked
Exchange
Rate
System
-
5
International
Banking
and Chapter 7
Money Market
Case 2: The Walt
Disney Company’s
Yen Financing
group
6
International
Bond Market
Chapter 8
Exercise
3:
Development
of
Offshore
RMB
bonds
7
International
Equity Markets
Chapter 9
8
Exchange Rate
Risk
and
Chapter
Foreign
Chapter 10
Currency
Derivatives
6,
IV. Prescribed Texts and Reference Materials
Textbook
Cheol S. Eun, Bruce G. Resnick, Sanjiv Sabherwal. International Finance (6e). McGraw-Hill, 2012.
Reference Materials
Laurence Copeland. Exchange rate and international finance (5e). Pearson, 2009.
Frederic S. Mishkin, Stanley Eakins. Financial Markets and Institutions (7e). Prentice Hall, 2011.
Harvard Business School (9-287-058) Case: The Walt Disney Company’s Yen Financing
Hong Kong's Linked Exchange Rate system
(http://www.hkma.gov.hk/eng/publications-and-research/hkma-background-briefs/hkmalin.shtml)
Websites
New York Stock Exchange (https://nyse.nyx.com/)
Hong Kong Exchanges and Clearing Limited (http://www.hkex.com.hk/)
Shanghai Stock Exchange (http://english.sse.com.cn/)
International Finance Corporation (http://www.ifc.org)
Yahoo Finance (http://finance.yahoo.com/)
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
Treasury Direct (http://www.treasurydirect.gov/)
Financial Times (http://www.ft.com/)
Hong Kong Monetary Authority (http://www.hkma.gov.hk/)
EU (http://europa.eu/)
China Foreign Exchange Trade System (CFETS) (http://www.chinamoney.com.cn/en/index.html)
V. Teaching and Learning Methods, and Learning Outcome Assessment
Learning Outcomes
Teaching & Learning
Methods
Assessment
1. Define the basic terms
and concepts related to
international finance
Lecture
Exercise
2. Outline the structure of
the
international
monetary system
Lecture, Exercise
Exercise
Case
Lecture
Tutorial
Case study
Exercise
Case
Lecture
Case study
Case
Lecture
Exercise
Lecture
Case study
Case
7. Calculate and explain
interest rate risk measures
Lecture
Tutorial
Exercise
8. Apply the principles of
international finance to
practical problems (case
studies)
Case study
Case
3. Identify and describe
rationale and mechanism
of basic international
financial instruments
4. Explain how foreign
exchange
market
performs
5. Compare and contrast
the different types of
foreign
currency
derivatives
6.
Summarize
how
international bond and
equity markets help a
business raise capital
VI. Assignments and Requirements
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
VII.
Composition of Total Marks and Criteria
Items
Attendance
Performance
Exercises
Cases
Paper
% of grade
10
5
20
20
45
Due
.
Grading Criteria for each item
……
VIII.
Academic Misconduct
The University takes any form of academic misconduct seriously. Academic misconduct on the
part of a student, which involves amongst other forms of misconduct:
Cheating, Plagiarism
and Collusion.
Plagiarism is the use of another scholar’s work as your own. It includes not only the
re-presentation of an entire article or section in a paper, but also (most commonly) the
paraphrasing or rearrangement of another’s material without proper attribution. Summarizing
someone else’s ideas and putting them in your own words does not free you from the
obligation of acknowledging their work by way of appropriate citation and referencing. Failure
to acknowledge material correctly is an offence against professional standards.
Most commonly, plagiarism exists when: the work submitted or presented was done, in whole
or in part, by an individual other than the one submitting or presenting the work (this includes
having another impersonate the student or otherwise substituting the work of another for the
student's own in an examination or test); parts of the work are taken from another source
without reference to the original author; or the whole work, such as an essay, is copied from
another source.
Collusion includes inciting, assisting, facilitating, concealing or being involved in plagiarism,
cheating or other academic misconduct by others.
IX. Student evaluation of member participation form (refer Appendix 1)
When undertaking syndicate work, each student must complete a ‘student evaluation form’ and
it must accompany all group work assessments. This form is an evaluation, by the student, of
each member’s participation and cooperation in the various projects.
Where a student evaluation form is not submitted the lecturer will assume equal participation
for that component of the program. If a form is not submitted, a student may not at a later time
(such as after receiving a fail grade for the subject) claim that they did a larger proportion of the
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
work than other team members. Where students’ evaluation of other team members’ input
differs, the lecturer will determine the relative weighting of each member’s participation based
on the submitted student evaluation sheets. The lecturer’s decision will be final.
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
APPENDIX 1
STUDENT EVALUATION OF MEMBER PARTICIPATION
SEPARATE FORM TO BE COMPLETED BY EACH STUDENT
In order to encourage equal participation on the part of all group members, each group member will
complete and turn in an evaluation of the group members. This evaluation will indicate the
percentage of contribution of each group member to the group’s over all performance. An evaluation
will accompany each group presentation and the written research project report.
Name of assessment component ___________________________________________
Group: ___________
Date: _______________
Student’s Name:____________________
Project Mark: __________
Student’s name
% Participation
The average of the awarded percentages should equal 100%. Individual marks are calculated by
multiplying paper grade by the percentage awarded by peers. For example, If Joe Black was
awarded 90% for his contribution to the project and the group received 36 out of 40 points for the
project, Joe’s mark would be 32.4%. However no individual can exceed the maximum points for the
project.
Students can give each of the group members 100%. If this is done, each student receives the mark
that was awarded to the total project (in the above example 36 points). No student should receive
zero unless they really did nothing to contribute to the completion of the project (EG, did not go to
meetings, did not complete assigned tasks, and did not contribute to the conceptualization of the
project.
In completing this form take into account:
Willingness of the individual to carry out jobs assigned
Ability of the individual to meet deadlines
Cooperation with other team members
Quality of the individual’s work
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Guangwai MBA - Global Vision, English Instruction, Field Immersion, Local Solution
Assignment Form
SECTION 1: STUDENT TO COMPLETE
Name:
Student ID No.
Course:
Assignment No.
STUDENT DECLARATION
I declare that this assignment is my own work, that all sources of reference are acknowledged in full
and it has not been submitted for any other course.
Signature
Date
SECTION 2: INSTRUCTOR TO COMPLETE
Date Received:
SECTION 3: INSTRUCTOR’S COMMENTS AND ASSESSMENT
STRENGTHS
WEAKNESSES
□Good use of relevant study materials
□Insufficient use of study material
□Detailed analysis of the questions
□Superficial treatment of question
□Successful use of analysis
□Too descriptive-little/no analysis
□Good illustrations
□Lack of illustrations
□Clear/logical structure
□Weak structure
□Effective communication
□Ineffective communication
Additional Comments:
Grade awarded for assignment
10